Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Private Lending & Conventional Mortgage Advice
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 4 years ago on . Most recent reply

User Stats

8
Posts
6
Votes
Tabitha Jones
  • Investor
  • Allentown, PA
6
Votes |
8
Posts

Financing when DTI is too high

Tabitha Jones
  • Investor
  • Allentown, PA
Posted

Hey Everyone! 

So I went to be pre-approved for my first investment property, but was denied by 2 lenders because the property would put my DTI too high. I have good credit and enough cash for down payment and closing ect.

I have my personal mortgage , auto loan, student loans, and 1 credit card with a balance. (Thought this was pretty typical) I'm not sure how people carry even 2 or 3 mortgages in just their name without sky rocketting their DTI.

Anyway my question is what are some ideas to get approved other than straight conventional loans since my DTI is too high?

I know the idea would be to pay down my personal debt, which I will work on, but that takes time. And even if i pay down the other debt I still would never be able to have more than 2 morgages in my name alone based on my income.

Thanks in advance!

Loading replies...